Engineering giant Larsen & Toubro Ltd on Monday reported a 28% growth in consolidated net profit for the March quarter of 2016-17, beating analysts forecast, as the infrastructure segment generating higher revenue.
L&T’s January-March quarter profit was at Rs 3,180 crore, compared with Rs 2,482 crore a year earlier, while total income from operations rose 12% to Rs 36,828 crore.
During 2016-17, the company recorded a 43% jump in net profit at Rs 6,041 crore.
L&T’s order book size inched up 5% to Rs 2.61 lakh crore at the end of March 2017.
The board of directors approved bonus shares in the ratio of 1:2, or one shares for every two held, and recommended a dividend of Rs 21 per share as compared with Rs 18.25 paid a year ago.
Gross revenue from the infrastructure segment increased 8 percent on progress of jobs under execution, the company said on Monday.